House Speaker Paul Ryan joined U.S. Rep. Greg Walden at Intel on Wednesday, Aug. 23 to promote an overhaul of the U.S. tax code, reports The Oregonian. Ryan indicated that the timeline for tax reform was still by the end of this year.
“What we’re trying to achieve here is to get the American economy primed for the 21st Century, to be competitive,” said Ryan according to the Oregonian.
To make that goal happen, Ryan reiterated that the first goal was to unite members of the House, Senate, and White House on the same page. Disagreements over specific details ultimately led to the derailment of lawmaker efforts to repeal and replace the Affordable Care Act earlier this year.
Ryan focused in on one primary goal of proposed tax reform plans, to lower the comparatively high rates. He specifically said it should be cheaper for major companies like Intel to bring money stored overseas back to the U.S. and put it to work.
“Our current tax code is a junker. It is a jalopy. It is the pre-drone era,” said Ryan according to The Oregonian.
NFIB continues to support and fight for a tax reform plan that lowers the tax burden on small businesses.
“Tax reform has the potential to have an enormously positive impact on small businesses; it is their top priority in 2017,” wrote NFIB president and CEO Juanita Duggan in a letter to the House Ways and Means Committee. “This is a historic opportunity to jump-start our economy and sustain it for the long-term, and we look forward to working together towards this shared goal.”